Today's Investment Banking Pulse
SpaceX’s $1 trillion IPO filing faces scrutiny over AI‑compute lease claims
SpaceX filed a massive S‑1 targeting a $1 trillion IPO. Elon Musk’s recent X post described the company’s lease with Anthropic as a short‑term 180‑day arrangement, contradicting the prospectus that outlines a multi‑year $1.25 billion‑per‑month deal. The AI‑compute partnership cited could contribute up to $15 billion.
Also developing:
By the numbers: Credit Agricole raises $670M via Samurai bond
Monday April 13, 2026
This week’s medtech briefing highlights a surge of strategic deals and capital flowing into neurovascular and AI‑enabled health solutions. Stryker announced the acquisition of Amplitude Vascular Systems to add intravascular lithotripsy to its peripheral‑vascular portfolio, while Gilead agreed to buy Tubulis for up to $5 billion, underscoring the premium placed on targeted‑delivery platforms. Growth equity poured into Monteris Medical ($28 million) and Luminai ($38 million) to accelerate minimally invasive neurosurgery tools and AI‑driven operational intelligence, respectively. Additional FDA clearances for ProSomnus and Miracell signal expanding data‑rich device ecosystems.
Miami Mandarin Oriental Luxury Project Secures $1 B Funding Amid Wealth Boom
Swire Properties announced a $1 billion financing package for a new 34‑story Mandarin Oriental hotel and a 66‑floor residential tower on Miami’s Brickell Key. The development, slated for completion in 2030, has already generated $1.3 billion in sales, driven by domestic U.S....
Stryker Signs Definitive Agreement to Acquire Amplitude Vascular Systems, Adding Next‑gen IVL Tech
Stryker Corp. has signed a definitive agreement to acquire Boston‑based Amplitude Vascular Systems, a developer of next‑generation intravascular lithotripsy (IVL) technology for calcified peripheral arterial disease. The deal, undisclosed in price, aims to broaden Stryker’s peripheral vascular platform and accelerate...
Goldman Sachs Kicks Off Earnings Season
Motley Fool Money kicks off earnings season with Goldman Sachs' Q1 2026 results, highlighting $17.2 billion in net revenue (up 14% YoY) and earnings per share of $17.55, beating expectations. The episode breaks down the bank’s mixed performance: equities revenue surged...
$1.009 Billion Automobile‑Receivables ABS Filing Adds New Supply to Corporate Bond Market
EFCAR, LLC filed a 424(b)(5) prospectus for $1.009 billion of automobile‑receivables backed notes, with a closing set for April 20, 2022. The issuance, underwritten by Deutsche Bank and Wells Fargo, will be delivered in book‑entry form and includes a 5% credit‑risk retention by the...
Rumor Fact(ory): DistroKid Explores $2B Sale
DistroKid, the DIY digital music distributor that claims to handle roughly 40% of new releases and serves over two million artists, is reportedly exploring a sale valued at $2 billion. The company’s last disclosed valuation was $1.3 billion in a 2021 funding...
SpaceX IPO, Index Funds and Lockup Periods
SpaceX is preparing an IPO valued between $1.75 trillion and $2 trillion, with a $75 billion raise that earmarks up to $15 billion for retail investors, especially Tesla shareholders. The company plans to replace the traditional 180‑day lock‑up with a staggered 3‑6‑month release, allowing...
Stryker to Acquire Amplitude Vascular Systems for Peripheral Vascular Portfolio
Stryker has signed a definitive agreement to acquire Amplitude Vascular Systems, bringing the latter’s intravascular lithotripsy (IVL) technology into its peripheral vascular portfolio. Amplitude’s CO₂‑generated pressure‑wave balloon catheter targets heavily calcified arteries, promising faster, more efficient revascularization. The companies will...
New SPACs: Irenic Acquisition Corp. (IACQU), Alpex Acquisition Corporation File for IPOs
Irenic Acquisition Corp. (ticker IACQU) and Alpex Acquisition Corp. have each filed Form S‑1 to launch new special purpose acquisition companies (SPACs). Irenic aims to raise roughly $200 million to pursue targets in technology and clean‑energy sectors, while Alpex seeks a...
Goldman Sachs Beats Earnings, Yet Stock Slides Amid Iran Tensions
Goldman Sachs profit jumped 19% in Q1 — but the stock dropped 3% as the war in Iran raises questions about what's ahead for dealmaking and IPOs for the rest of the year.
BluGlass Completes Upsized AUS$8m Two-Tranche Placement
BluGlass Ltd secured an upsized AUS$8 million (≈US$5.3 million) two‑tranche placement at AUS$0.24 per share, adding a free‑attaching option exercisable at AUS$0.38 until May 2028. The raise includes a AUS$2.3 million cornerstone from the board, with executive chair Omer Granit committing AUS$2 million (≈US$1.3 million). Proceeds...
Secondaries Trading Platform Plans Personal NAV Loans
A leading secondary‑market trading platform announced plans to launch personal net‑asset‑value (NAV) loans for wealth‑management clients. The product will let high‑net‑worth investors borrow against the value of their private‑fund stakes, providing liquidity without forced sales. Over time the platform intends...
The Paramount Question Isn’t Paramount
Paramount Skydance Corp. agreed to acquire Warner Bros. Discovery for roughly $110 billion in cash, valuing the target at $31 per share. The deal has drawn political and regulatory attention, yet antitrust concerns appear muted because the combined entity faces strong...
National Healthcare Properties (NHP) IPO Deck
National Healthcare Properties (NHP) has unveiled its initial public offering deck, signaling a planned IPO later in 2026. The self‑managed REIT specializes in owning and operating senior housing communities and outpatient medical facilities throughout the United States. The presentation highlights...
Arxis (ARXS) IPO Deck
Arxis (ticker ARXS) has filed an initial public offering, presenting a deck that outlines its business of designing and manufacturing mission‑critical electronic and mechanical components for aerospace, defense, and specialized industrial customers. The company highlights its role supplying parts for...
Sysco Bets Big on Cash-and-Carry With $29 Billion Restaurant Depot Acquisition
Sysco announced a $29 billion acquisition of Restaurant Depot, the nation’s leading cash‑and‑carry warehouse for independent restaurants. The deal combines Sysco’s delivery‑centric distribution network with Depot’s 160‑plus warehouse locations, expanding Sysco’s reach to operators who prefer in‑person buying. Sysco estimates the...
Alamar Biosciences (ALMR) IPO Deck
Alamar Biosciences (ticker ALMR) is positioning its commercial‑stage proteomics platform for an initial public offering, as detailed in an investor deck released on April 13, 2026. The company’s technology delivers ultra‑sensitive protein biomarker detection, enabling researchers to identify disease signatures at earlier stages...
AEVEX (AVEX) IPO Deck
Aevex (ticker AVEX) unveiled an IPO presentation on April 13, 2026, signaling its intention to list on a major U.S. exchange. The defense‑technology firm specializes in advanced unmanned aerial and maritime vehicles used by military and intelligence customers. The deck highlights a...
Wise Eyes Nasdaq, Beats Earnings and Invades UK Banking All at Once
Wise reported a landmark month, confirming a Nasdaq listing, posting a 24% jump in Q4 revenue, and unveiling a UK current‑account product aimed at challengers like Monzo and Revolut. The fintech now serves roughly 15.6 million customers across more than 70...
Deal Undervalues Secure, Shareholders Lose Billions
If this deal goes through as written, it's an incredibly disappointing outcome for $SES.TO shareholders. Our base case was C$34/share using conservative assumptions. Instead, shareholders are being asked to sell a scarce, high-quality waste infrastructure asset for C$24.75/share, mostly in GFL...
MicroStrategy's Bitcoin Funding Risks Dilution on Price Drops
"Microstrategy is a capital markets issuance MACHINE. It's a 9th wonder of the world. ... But will they have to sell their common stock? That's dilution. If Bitcoin doesn't keep going up, you'll have to sell at the worst time."...
Data Center ABS Iskandar and Kaveh Bring to Market, Raising $1.4 Billion
Iskandar Enterprise and Kaveh Enterprise have launched a $1.4 billion asset‑backed security backed by first‑lien mortgages on two Ashburn, Virginia data centers. The issuance consists of five fixed‑rate, interest‑only notes with a five‑year annual repayment date and a final legal maturity...
Blackstone Launches $2B Data‑center REIT IPO
Welcome to the next iteration of #realestate titan #Blackstone, as a standalone #datacenter #REIT #IPO, sez Bloomberg behind paywall. Targeting $2B, approaching #SWFs, institutional capital #SEC #WallSt #PE #CRE https://t.co/DlILJ51mei
Know the Right Time to Maximize SaaS Sale Value
Next up at MicroConf: @einarvollset on maximizing for the value you receive when selling your SaaS business. "When to sell your B2B SaaS"
S&P Goes Negative on DeKalb Co., Ga., Water and Sewer Bonds
S&P Global Ratings lowered the outlook on DeKalb County, Georgia’s water and sewer senior lien bonds to negative while affirming the AA‑minus rating, affecting $1.28 billion of debt. The agency cited weakening debt‑service coverage, projected at 1.2‑1.4× over the next three...
Zen Reports Renewable Sale Talks Progressing, Parties Aligned
Zen says sale talks progressing well, all parties “deeply and strategically aligned” on renewables #energysky -- via Renew Economy: https://t.co/Wl53Esvwsg https://t.co/wrIC8ACnKS
Merck's $30B Offer Now Exceeds Revolution's Market Cap
Reminder that Merck tried to buy Revolution for $28-$32B (per Jan reporting from FT), vs current market cap after today's great data of $26.5B https://t.co/hoq2P0oiG9
Walker & Dunlop Secures $78 Million Financing for Olive DTLA Multifamily Project
Walker & Dunlop arranged a $78 million financing package for Waterton’s 293‑unit Olive DTLA apartment complex, combining a $66 million Fannie Mae refinance with $11.8 million preferred equity from Tokyu Land US Corp. The cash‑neutral deal, led by Steve Carlson, adds new multifamily...
Goldman Beats Forecast Yet Shares Open Lower
Goldman was - unusually - the first bank out of the gate for this quarter's earnings season. The company beat expectations: - EPS of $17.55 vs $16.34 expected - Revenue $34.31Bln vs $16.98Bln expected However, $GS still gapped down on the open...
Public Offerings Put GovCon in a New Spotlight as SpaceX's Listing Looms
A rare wave of traditional IPOs has swept the government contracting (GovCon) sector, featuring recent listings such as Voyager Technologies, Firefly Aerospace, York Space Systems, and Merlin Labs. The trend signals growing investor appetite for space‑focused defense firms, and it...
GFL Environmental Nears $4.3 B Acquisition of SECURE Waste, Expanding Waste‑Management Footprint
GFL Environmental Inc. is on the verge of acquiring Canada‑based SECURE Waste Infrastructure Corp. for more than $4.3 billion, according to Bloomberg News. The transaction would create one of the largest waste‑management platforms in North America and is being closely watched...
Mark Anthony Group of Companies Announces Plans to Acquire The Finnish Long Drink
Mark Anthony Group of Companies announced plans to acquire The Finnish Long Drink, a fast‑growing ready‑to‑drink (RTD) brand. The deal builds on Mark Anthony’s existing exclusive distribution partnership in Canada and aims to expand the brand across North America. Co‑founders...
RESAAS Services Secures $1.8 M Private Placement to Fuel PropTech Expansion
RESAAS Services Inc. completed a non‑brokered private placement raising roughly $1.8 million at $0.45 per share. The funding, tied to a concurrent block trade, will bolster the company’s balance sheet and support working‑capital needs as it scales its data‑exchange platform used...
Amazon Mulls $9 B Offer for Globalstar to Accelerate Satellite Broadband
Amazon is exploring a bid valued around $9 billion for Globalstar, a satellite communications firm with valuable spectrum licenses in more than 120 countries. The move would speed Amazon’s plan to expand its Project Kuiper constellation, which currently trails rivals like...
Otis Takes Majority Stake in WeMaintain to Accelerate AI‑Driven Building Services
Otis Worldwide Corp. announced it has acquired a majority stake in WeMaintain, the AI‑enabled service platform for elevators and escalators. The deal positions Otis to embed WeMaintain’s IoT and AI tools across its 2.5 million global service units, signaling a deeper...
Bernstein Launches MENA Energy Coverage, Flags ADNOC Gas and Fertiglobe as Top Picks
Global equity research firm Bernstein has begun sell‑side coverage of the Middle East and North Africa energy sector, assigning an Outperform rating and a price target of AED 4.08 ($1.11) to ADNOC Gas and AED 3.66 ($1.00) to Fertiglobe. The firm cites the...
X-Energy Files IPO for SMR Venture, Eyes $2.3 Trillion Market
X-Energy has submitted a draft registration statement to the SEC for an IPO under the ticker XE, positioning its Xe-100 small modular reactor technology to serve a projected $2.3 trillion market. Backed by Amazon, Dow and other investors, the company aims...
Hapag-Zim Deal Could Ignite Another Merger Wave in Container Shipping
Hapag‑Lloyd announced a $4.2 billion acquisition of Israel’s Zim Integrated Shipping Services, marking the latest push for scale in container shipping. The deal follows a wave of pandemic‑driven consolidations but is driven more by strategic positioning than financial distress. MSC now...
M&A: Denarius Targets Emerita in Spain’s Zinc-Copper Belt
Denarius Metals has tabled a non‑binding all‑share offer for Emerita Resources, pricing the deal at a 15% premium to Emerita’s April 10 close. The transaction would value Emerita between $25 million and $29 million, depending on its fully diluted share count, and...
Goldman CEO: Scale Eclipses Geopolitical Concerns in M&A
Goldman Sachs reported a 19% jump in first‑quarter profit to $5.63 billion, driven by a 22% rise in global banking revenue to $12.74 billion and a 48% surge in investment‑banking fees. CEO David Solomon said the urge to scale through mergers and...
M&A Is Still Forging Ahead in Spite of the Iran Conflict, Goldman's CEO Says — for Now
Goldman Sachs CEO David Solomon told investors that the Iran‑related conflict has not yet slowed the firm’s deal‑making engine. In Q1 the bank posted roughly $17 billion in revenue, with advisory fees jumping 89% year‑over‑year and equities revenue up 27%. The...
Vertiv Acquires Prefab Enclosure Maker BMarko
Vertiv announced the acquisition of BMarko Structures, a South Carolina‑based maker of prefabricated and containerized data‑center enclosures. While financial terms were not disclosed, BMarko brings more than 500,000 sq ft of custom‑engineered modular structures to Vertiv’s Infrastructure Solutions business. The deal is...
Hawkeye360 IPO Preps with $117M Revenue, Massive Backlog
Satellite signals-intel provider @hawkeye360, preparing IPO on @NYSE, reports $117.7M in 2025 rev, $24.8M EBITDA and sharply lower operating loss. Revenue was 61% US government, 16% Japan, 23% rest of world. Backlog, at $302.7M, up 6.8x from 2024.https://t.co/E8IPZWf3pK https://t.co/QgmLlopOAW
TIM Edges Closer to Sparkle Sale
Telecom Italia’s wholesale unit Sparkle is being sold to Italy’s Ministry of Economy and Finance and infrastructure specialist Retelit for roughly €700 million (about $756 million). The European Commission cleared the transaction, stating it poses limited competition risk in cable landing stations,...
Stryker Agrees to Buy Amplitude Vascular Systems for IVL Tech
Stryker announced a definitive agreement to acquire Amplitude Vascular Systems, a specialist in intravascular lithotripsy (IVL) technology, for roughly $1.5 billion in cash. The deal broadens Stryker’s cardiovascular portfolio by adding a catheter platform designed for treating heavily calcified coronary lesions,...
CLO Market 2026: How Investor Strategies Are Shifting
The 2026 collateralised loan obligation (CLO) market is shifting from reliance on broad macroeconomic cues to a focus on granular, deal‑level analysis. Investors are scrutinising fundamental credit factors such as collateral quality, CCC concentrations and tail‑risk exposure, especially after AI‑related...
Cisco Eyes Astrix Security To Lock Down AI Agents In Potential $350M Deal: Report
Cisco is in advanced talks to acquire Israeli AI‑agent security startup Astrix Security for a price between $250 million and $350 million. Astrix’s platform safeguards non‑human identities across SaaS, IaaS and PaaS environments, addressing emerging threats as AI agents proliferate. The potential...
Goldman CEO Sees Noise Persisting on Retail Private-Credit Funds
Goldman Sachs CEO David Solomon said retail investors' concerns about private‑credit funds will persist, but Goldman remains comfortable in the space. The bank's $15.7 billion private‑credit fund saw redemptions just under 5 % in Q1, narrowly avoiding a broader outflow. Overall, the...
Mattress Firm Parent Somnigroup to Buy One of Its Suppliers for $2.5B
Somnigroup International, the parent of Mattress Firm, announced an all‑stock acquisition of longtime supplier Leggett & Platt for roughly $2.5 billion. The deal, approved by both boards, will combine two historic companies into a single entity with 175 manufacturing sites in 36 countries...
Vercel CEO Guillermo Rauch Signals IPO Readiness as AI Agents Fuel Revenue Surge
Vercel’s annual recurring revenue surged from $100 million at the start of 2024 to a $340 million run rate by February 2026, driven by a wave of AI‑generated apps. CEO Guillermo Rauch told investors the company operates like a public firm and is...